7.7 C

AP source. Electric vehicle battery companies solve the white of the trade

WASHINGTON (AP) – South Korea’s two largest makers of electric car batteries have settled a long-running trade dispute that will allow one of them to move forward with plans to build batteries in Georgia.

LG Energy Solution և SK Innovation reached a settlement, ending the need for President Joe Biden to intervene in the dispute. The person asked not to be identified, as the companies have not yet announced the settlement. No details

In February, the US International Trade Commission ruled that SK had stolen 22 trade secrets from LG Energy, and that SK had been banned from importing, manufacturing or selling batteries in the United States for 10 years.

The decision could leave Ford և Volkswagen looking for battery challenges as they both release additional electric car models. SK has contracts to make batteries for the electric Ford F-150 pickup truck և electric Volkswagen SUV.

The commission said SK could supply batteries to Ford Motor Co. for four years and Volkswagen AG for two years.

The decision jeopardized the $ 2.6 billion battery plant that SK is building in Commerce, Com.

Politicians called on Biden to reverse the commission’s decision. Biden had until Sunday night to make a decision.


Krisher reported from Detroit.


Please enter your comment!
Please enter your name here